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RGB Approves Renewal Increases of 1.5% and 2.5%

Posted by Jennifer Rozen | Jun 26, 2018 | 0 Comments

Rent Stabilized Rents are Once Again On the Rise. NYC's Rent Board meets yearly to determine how much, if at all, landlords can raise the rents on almost a million rent stabilized apartments. This year, the board voted to charge increases of up to 1.5 percent for one-year leases and 2.5 percent for two-year leases for all leases beginning after October 1, 2018. These increases are the highest tenants have seen since 2013.

Although data showed that landlords would continue to profit from the rent stabilized rental income even if there were a rent freeze, the Rent Guidelines Board ignored the pleas of struggling tenants who argued that the increases would push them and their families over the precipice into financial hardship and/or ruin.

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City’s Rent Board Approves Increases of 1.5% and 2.5% 

June 26, 2018

About the Author

Jennifer Rozen

Managing Attorney - The President and Owner of Rozen Law Group. She was a named partner at Fishman Rozen prior to launching the firm. Jennifer Rozen became a partner of Fishman & Mallon, LLP in May 2013. Her involvement in tenant and consumer law begin in October of 2005 when she landed a job as a summer intern at Fishman & Neil. She has been advocating on behalf of New York City tenants and consumers ever since.

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